Information Management and the Digital Firm
Information Management and the Digital Firm
Information management is the assembly and control of data from one or more foundations and transfer of data to one or more viewers. Information management involves management of planning, evaluating, reporting and passing information in order to handle and implement objectives of an organization via information delivery. On the other hand, digital firm is an organizational term that enables core investment relationship among employees, suppliers, customers and other partners with the use of digital network. Examples of digital firms technology platforms are supply chain management, and customer relationship management among others. The purpose of technology platform is to enable information exchange and seamless integration in a digital way within a firm to employees as well as other stakeholders, such as suppliers, customers and business partners. This paper will discuss digital firms, business and electronic commerce. The paper will also analyze internet technology and impact of digital firm in commerce (Rappaport, 2002).
Wireless communication involves coverage of cellular techniques and network cohorts, wireless data network and internet retrieval (WI-FI and Bluetooth) wireless interacting standards, radio regularity identification, m-Commerce and other uses. Wireless communication involves transfer of data amid one or more points without connection of an electrical conductor. It comprises of different mobile, portable and fixed applications such as radios, cellphones, wireless networking and personal digital assistants.
In my opinion, the digital firm in information management is an essential tool and a necessity in modern investment. This service as well as the help of wireless communication, helps organizations to be able to run core investment services and function in an effective and continuous way. Proper flow of information via digital firm makes production and management of the organization more efficient. In addition, digital enablement of core investment management offers an investment opportunity to operate all over the globe. It also enables investments to adopt investment policies that meet what is required in the market. This modern technology also builds investment value from technology investment. Digital firm also yields an improvement in investment production. As a result of digital firm, organizations have been able to urge efficiency developments in inventory and stock chains. Through installation of the digital firms, investments are able to enhance management of client relationships.
Today information systems are used to send official communications from one point to the other either in a written or audio way. An example of written communication that is retrieved through information systems is e-mail. E-mail is an official written communication used to deliver information in the form of a soft copy that can be printed when evidence is needed. It is easy to send data through e-mail to any part of the world within a short time. An example of audio message is a phone call, which is done when immediate feedback is required. In todays world, information systems are used in many ways, including banking, shopping and studies. Banks all over the world offer information about them in their sites. It is a service, through which their clients get assistance without a necessity to go to the bank.
There are a number of emerging technologies that have enabled new forms of communication with partners and for collaboration. These technologies include Smartphones, iPads, laptops and tablets (Goldsmith, 2005). In order for these information transmission devices to deliver information, the person receiving information must have a similar device. The devices are to be internet-enabled; they also offer Bluetooth and WI-FI services, which enable an individual to send data from one part of the world to the other.
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Information technology systems enable new forms of commerce between organizations, individuals, as well as governments. This service has been made possible since today information technology systems have turned the globe into a commercial village. It implies that it is easy to access business opportunities from the internet and other information systems. These systems have also made it easy to make advertisements, which will reach the whole world, therefore increasing business opportunities. Individuals are able to make transactions at a cheaper price since information systems offer cheap services. Delay of information delivery is also eliminated making business environment pleasant. Research also indicates that information system in coordination with information technology is enabling a healthy trade between countries. Through this system a country is able to expose foreign trade policies hence attracting other countries to trade with it (Pahlavan, 2005). Commerce between organizations has also been made easy. It has occurred as a result of cheap method of communication, easy method of storing data, cheap and reliable method of acquiring information about market. Information systems have a great impact in commerce since experts offer their advice and lessons to investors resulting to technical knowhow on investment. Governments, individuals and organizations are able to share their challenges due to these systems hence educating others about the challenges.
This research identified some shortcomings associated with wireless communication as a concept in information management. The first shortcoming is that wireless communication devices are expensive to buy and maintain. A company requires a lot of capital to buy and to install wireless communication devices. In case of breakdown, it also costs the company a lot of money to repair. The second limitation is that these devices require a lot of technical knowledge to handle them. An organization is needed to hire well qualified personnel to operate these devices and to maintain them. It is expensive to hire technical labor, and it costs an organization a lot of money (Weill & Marianne, 2008). The third shortcoming involves hacking of an organizations secrets. With the development of information technology, there have been reported cases of hacking of information through wireless communication system. From this information, it is evident that the organizations secrets cannot be communicated through this system to avoid leakage of important data. Another shortcoming is that all the employees in an organization are supposed to be familiar with ways of operating wireless communication devices. The cost of training employees is high and an organization faces the charges in order to achieve the best. This cost reduces an organizations revenue.
In conclusion, information technology is a crucial method in the development of the world. It is a basic requirement in the commerce industry, which has brought an increased growth in the field of commerce. The rise of information technology has made many activities easier in the whole world today. Communication has been made easier through the use of emails, phones and other information systems (Laudon & Jane, 2009). People can communicate with one another from all corners of the world and it is a result of information technology development. Information technology has been a source of entertainment to many people in the world today. The use of internet services and chat rooms like Twitter, Facebook and many others are useful sites that provide advertisements and other business promotion services. A big number of young people who are potential buyers of different products are found in these chat rooms. It implies that information systems have promoted investments through the reach of clients even during their leisure time.